Tim Cook awarded with restricted stock worth up to $114 million
What you need to know
- Tim Cook received a restricted stock grant today, according to an SEC filing.
- The Apple CEO received 667,974 restricted stock units that will vest through 2025.
- Luca Maestri, Deirdre O'Brien, and Jeff Williams also received awards.
Reported by MacRumors, a new filing with the SEC revealed that Apple CEO Tim Cook has been awarded over 667,000 restricted stock units that are worth, according to today's stock price, over $76 million.
According to the report, this is the first stock grant that Tim Cook has received from Apple since 2011. The last of that grant will completely vest in 2021, which explains why this new one will vest in 2023 through 2025.
Apple's board of directors issued a statement on the award, citing the CEO and Apple's enormous success since Cook took on the role at the company.
Cook was not the only Apple executive to receive stock awards this time around. Luca Maestri, Deirdre O'Brien, and Jeff Williams also received over 178,000 shares as well.
Many have started to wonder when Cook might retire, but according to the CEO, he can't envision his life without Apple.
Of course, one day Cook will have to leave for one reason or another. When he does, Jeff Williams, Apple's Chief Operations Officer, is rumored to be the one who would take the helm.
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Joe Wituschek is a Contributor at iMore. With over ten years in the technology industry, one of them being at Apple, Joe now covers the company for the website. In addition to covering breaking news, Joe also writes editorials and reviews for a range of products. He fell in love with Apple products when he got an iPod nano for Christmas almost twenty years ago. Despite being considered a "heavy" user, he has always preferred the consumer-focused products like the MacBook Air, iPad mini, and iPhone 13 mini. He will fight to the death to keep a mini iPhone in the lineup. In his free time, Joe enjoys video games, movies, photography, running, and basically everything outdoors.